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  1. Total to Form 8824 Line 15 (not less than zero) $ 4 (Taxable as boot) Form 8824 Line 16 FMV Replacement Property Total from line 17, worksheet 2 $ 5 Form 8824 Line 18 Basis and Net Amounts Paid Purchase price, Exchange Property $ 6 Less depreciation taken to date of sale ( ) 7 Less deferred gain from previous 1031 Exchange (if any) ()8 Net cash ...

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  2. Form 8824 and completing line 12, 15, or 25, see the instructions for important information regarding a separate statement you must attach. • If you transferred and received (a)more than one group of like-kind properties, or (b cash or other (not like-kind) property, see Reporting of multi-asset exchanges in the instructions. Note:

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  4. Regulations sections 1.1031(a)-1, 1.1031(a)-3, and 1.1031(k)-1 provide a definition of real property under section 1031, address a taxpayer's receipt of personal property incidental to the like-kind real property received, and apply to like-kind exchanges after December 2, 2020.

  5. Jun 13, 2023 · Filling Out Form 8824: A Step-by-Step Process. Part I: Information About the Like-Kind Exchange. Line 1: Describe the property you gave up and the like-kind property you received. Line 2: Enter the date the property was transferred and the date you acquired the replacement property.

  6. May 17, 2023 · A 1031 exchange is a tax-deferred transaction that replaces one or more real estate properties (known as the relinquished property) with one or more like-kind properties (known as the replacement property) without the realization of a gain.

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  7. Apr 1, 2021 · This is a critical step, as failing to file the form correctly could result in a reversal of your 1031 exchange and potential tax penalties. Luckily, reporting a 1031 exchange is fairly easy to do. You’ll just need to complete IRS Form 8824 when you file your taxes. Here’s what you need to know.

  8. Jan 4, 2022 · 1031 Exchange Rules. There are certain rules that an investor will have to follow to take advantage of the 1031 tax exchange in Hawaii. It may seem daunting for beginners, but it will be straightforward once you understand the steps and actions to take. Here are seven rules to follow. 1. Property Must Qualify

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